$231 Million Approved for Payments to Madoff Victims
The court-appointed trustee responsible for liquidating Bernard L. Madoff Investment Securities has announced that $231 million in Securities Investor Protection Corp. funds has been set aside to satisfy 543 claims by victims of Bernard Madoff's massive Ponzi scheme. The figure reflects "major progress" since May 14, when $61.4 million in SIPC funds had been committed to 125 Madoff claimants, SIPC said in a statement.
